FCMB introduces staff management solutions targeted at SMEs

Date:

Share post:

First City Monument Bank (FCMB) is partnering with payment gateway solutions provider, SystemSpects, to help Small, Medium Enterprises (SMEs) manage staff payroll. Considering many startups hardly have the resources to engage the services of qualified human resource managers or an accountant, the introduction of the payroll solutions is apt. It will yank the responsibilities and oversight accorded a lean and overloaded management off the shoulders of financially pressed small business owners.

The solution, called ‘FCMB Payroll’, feature tools that store staff payment history, tax and pension remittances, It also helps to easily disburse staff salaries from any bank to any landing commercial institutions where each staff member’s account is domicile. More, it allows staff access payday loans from FCMB.

While reiterating the importance of the payment solutions to the burgeoning SMEs ecosystem in Nigeria, Adam Nuru, the Managing Director of FCMB, said, “We are excited to partner with SystemSpecs, a major solutions provider in the financial ecosystem to address the challenges confronting SMEs”.

“The FCMB payroll has been designed to provide a more convenient and modern business tool for business owners and their employees. As a bank that is consistently innovating to meet the need of our increasingly dynamic customer base, we are confident that the FCMB Payroll initiative will go a long way to boost the operations of SMEs and improve their productivity”, he added.

With over 17.4 million SMEs operating in Nigeria, citing PriceWaterCooper statistics, providing effective management tools, such as payroll solutions, to mitigate the shortage of professional hire (at the startup stages) to manage personnel issues in small businesses, will go a long way to unlock growth. It will also breed efficiency in the long run.

Toyin Afilaka
Toyin Afilaka
Toyin Afilaka writes with simplicity and insight. He aims to enrich the Nigerian small business landscape. Through Hustle24 he connects entrepreneurs with information about new policies, enterprise solutions and opportunities that will aid their 'hustle'. He has written extensively for CobraReview, a product review portal, and served as a lead project manager for MarketingMix where he consulted as PR consultant for MTN Project Fame and Business Next Titan etc.

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Related articles

4 strategies from Bezos that would change your business

Success sometimes can grow to become a craft that leaves behind trails for others to follow. Jeff Bezos...

How to cultivate a purposeful culture

Sarah Turner, the founder and chief executive officer of an eponymous agency, provides interesting insights into how to...

20 Types Of Content To Help You Attract Prospects And Win Customers – Renae Gregoire

If you know deep inside that you need to be doing more to connect regularly with your audience...

High prospect for real estate investment in Nigeria – Bartholomew Egbochie, CEO, ATCO Homes

Lagos, Oct 4, 2023 - The Nigeria real estate sector provides ample investment opportunities. According Bartholomew Egbochie, the...